Spanish property group Colonial, struggling under huge debts, announced losses of 2.38 billion euros for the first half of 2008 which it blamed on asset depreciation three days ago.
Colonial said in an announcement late Sunday that it had reached an agreement in principle to reschedule its debt of nearly nine billion euros this month.
At the [...]
Posted on September 5th, 2008 by Property sale in Spain
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Madrid is the capital of Spain (since 1562) and also the capital of the autonomous community of Madrid. It lies at the geographical centre of the Iberian peninsula. The metropolitan area of Madrid (city and all cities satellites) has about 5 million people. The city of Madrid has a population of approximately 3.2 million inhabitants [...]
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Posted on August 4th, 2008 by Property sale in Spain
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Fears about the extent of the economic problems facing Spain intensified yesterday when the country’s largest property developer filed for bankruptcy.
Martinsa-Fadesa, whose interests span apartment buildings, hotels and golf courses, said that it had been unable to secure a €150 million loan from the banks and creditors that hold its €5 billion of debt.
The move [...]
Posted on July 16th, 2008 by Property sale in Spain
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